EBay Is Exploring Methods to Enter NFT Market: CEO



Briefly

  • EBay is exploring potential crypto funds, per CEO Jamie Iannone.
  • He additionally mentioned {the marketplace} is alternatives round NFTs.

EBay is exploring its choices round cryptocurrency funds and NFTs, in accordance with CEO Jamie Iannone.

Iannone, who took the reins at EBay final yr, teased the information in a phase this morning on CNBC’s Squawk Field. (The worth of EBay inventory took an enormous hit final week, falling 10% in a single day—Iannone was principally there to place shareholders comfortable.)

“We’re increasing the varieties of funds that we take,” he mentioned, pointing to non-crypto fee platforms like Apple Pay and Google Pay, earlier than including that the corporate plans to “proceed to take a look at different choices, like cryptocurrencies.” 

He additionally mentioned EBay is trying into the NFT market. “We’re it and exploring alternatives for a way we will allow it on EBay in a simple method,” he mentioned, noncommittally.

NFTs are non-fungible tokens that can be utilized to characterize proof of possession in digital objects. They’ve generated greater than $1.5 billion in gross sales within the first quarter of the yr, in accordance with DappRadar, and have change into particularly standard throughout the digital artwork and collectibles house.

EBay is not any stranger to noncommittally exploring blockchain-based funds programs: the corporate was connected to Fb’s blockchain challenge, Diem (previously “Libra”), however deserted it in 2019. And the e-commerce website has been mulling adding Bitcoin and other cryptos as fee choices to its platform since a minimum of 2014.

As of now, there are not any concrete plans round how precisely crypto could be included into the platform.



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